86950 Federal Register / Vol. 88, No. 240 / Friday, December 15, 2023 / Notices 

1See Docket No. RM2018–3, Order Adopting 

Final Rules Relating to Non-Public Information, 

June 27, 2018, Attachment A at 19–22 (Order No. 

4679). 

3040.130 through 3040.135, and 39 CFR 

3035.105; Public Representative: 

Kenneth R. Moeller; Comments Due: 

December 18, 2023. 

8. Docket No(s).: MC2024–106 and 

CP2024–110; Filing Title: USPS Request 

to Add Priority Mail Express, Priority 

Mail & USPS Ground Advantage 

Contract 30 to Competitive Product List 

and Notice of Filing Materials Under 

Seal; Filing Acceptance Date: December 

8, 2023; Filing Authority: 39 U.S.C. 

3642, 39 CFR 3040.130 through 

3040.135, and 39 CFR 3035.105; Public 

Representative: Christopher C. Mohr; 

Comments Due: December 18, 2023. 

9. Docket No(s).: MC2024–107 and 

CP2024–111; Filing Title: USPS Request 

to Add Priority Mail Express, Priority 

Mail & USPS Ground Advantage 

Contract 31 to Competitive Product List 

and Notice of Filing Materials Under 

Seal; Filing Acceptance Date: December 

8, 2023; Filing Authority: 39 U.S.C. 

3642, 39 CFR 3040.130 through 

3040.135, and 39 CFR 3035.105; Public 

Representative: Christopher C. Mohr; 

Comments Due: December 18, 2023. 

This Notice will be published in the 

Federal Register. 

Erica A. Barker, 

Secretary. 

[FR Doc. 2023–27543 Filed 12–14–23; 8:45 am] 

BILLING CODE 7710–FW–P 

POSTAL REGULATORY COMMISSION 

[Docket Nos. CP2024–113; MC2024–108 and 

CP2024–112; MC2024–109 and CP2024–114; 

MC2024–110 and CP2024–115] 

New Postal Products 

AGENCY: Postal Regulatory Commission. 

ACTION: Notice. 

SUMMARY: The Commission is noticing a 

recent Postal Service filing for the 

Commission’s consideration concerning 

a negotiated service agreement. This 

notice informs the public of the filing, 

invites public comment, and takes other 

administrative steps. 

DATES: Comments are due: December 

19, 2023. 

ADDRESSES: Submit comments 

electronically via the Commission’s 

Filing Online system at http://

www.prc.gov. Those who cannot submit 

comments electronically should contact 

the person identified in the FOR FURTHER

INFORMATION CONTACT section by 

telephone for advice on filing 

alternatives. 

FOR FURTHER INFORMATION CONTACT: 

David A. Trissell, General Counsel, at 

202–789–6820. 

SUPPLEMENTARY INFORMATION: 

Table of Contents 

I. Introduction 

II. Docketed Proceeding(s) 

I. Introduction 

The Commission gives notice that the 

Postal Service filed request(s) for the 

Commission to consider matters related 

to negotiated service agreement(s). The 

request(s) may propose the addition or 

removal of a negotiated service 

agreement from the Market Dominant or 

the Competitive product list, or the 

modification of an existing product 

currently appearing on the Market 

Dominant or the Competitive product 

list. 

Section II identifies the docket 

number(s) associated with each Postal 

Service request, the title of each Postal 

Service request, the request’s acceptance 

date, and the authority cited by the 

Postal Service for each request. For each 

request, the Commission appoints an 

officer of the Commission to represent 

the interests of the general public in the 

proceeding, pursuant to 39 U.S.C. 505 

(Public Representative). Section II also 

establishes comment deadline(s) 

pertaining to each request. 

The public portions of the Postal 

Service’s request(s) can be accessed via 

the Commission’s website (http://

www.prc.gov). Non-public portions of 

the Postal Service’s request(s), if any, 

can be accessed through compliance 

with the requirements of 39 CFR 

3011.301.1

The Commission invites comments on 

whether the Postal Service’s request(s) 

in the captioned docket(s) are consistent 

with the policies of title 39. For 

request(s) that the Postal Service states 

concern Market Dominant product(s), 

applicable statutory and regulatory 

requirements include 39 U.S.C. 3622, 39 

U.S.C. 3642, 39 CFR part 3030, and 39 

CFR part 3040, subpart B. For request(s) 

that the Postal Service states concern 

Competitive product(s), applicable 

statutory and regulatory requirements 

include 39 U.S.C. 3632, 39 U.S.C. 3633, 

39 U.S.C. 3642, 39 CFR part 3035, and 

39 CFR part 3040, subpart B. Comment 

deadline(s) for each request appear in 

section II. 

II. Docketed Proceeding(s) 

1. Docket No(s).: CP2024–113; Filing 

Title: Notice of United States Postal 

Service of Filing Functionally 

Equivalent Inbound Competitive MultiService Agreement with Foreign Postal 

Operator—FY24–2; Filing Acceptance 

Date: December 11, 2023; Filing 

Authority: 39 CFR 3035.105; Public 

Representative: Katalin K. Clendenin; 

Comments Due: December 19, 2023. 

2. Docket No(s).: MC2024–108 and 

CP2024–112; Filing Title: USPS Notice 

to Add Priority Mail & USPS Ground 

Advantage Contract 138 to Competitive 

Product List and Notice of Filing 

Materials Under Seal; Filing Acceptance 

Date: December 11, 2023; Filing 

Authority: 39 U.S.C. 3642, 39 CFR 

3040.130 through 3040.135, and 39 CFR 

3035.105; Public Representative: 

Jennaca D. Upperman; Comments Due: 

December 19, 2023. 

3. Docket No(s).: MC2024–109 and 

CP2024–114; Filing Title: USPS Request 

to Add Priority Mail Express, Priority 

Mail & USPS Ground Advantage 

Contract 33 to Competitive Product List 

and Notice of Filing Materials Under 

Seal; Filing Acceptance Date: December 

11, 2023; Filing Authority: 39 U.S.C. 

3642, 39 CFR 3040.130 through 

3040.135, and 39 CFR 3035.105; Public 

Representative: Jennaca D. Upperman; 

Comments Due: December 19, 2023. 

4. Docket No(s).: MC2024–110 and 

CP2024–115; Filing Title: USPS Request 

to Add Priority Mail Express, Priority 

Mail & USPS Ground Advantage 

Contract 32 to Competitive Product List 

and Notice of Filing Materials Under 

Seal; Filing Acceptance Date: December 

11, 2023; Filing Authority: 39 U.S.C. 

3642, 39 CFR 3040.130 through 

3040.135, and 39 CFR 3035.105; Public 

Representative: Jennaca D. Upperman; 

Comments Due: December 19, 2023. 

This Notice will be published in the 

Federal Register. 

Erica A. Barker, 

Secretary. 

[FR Doc. 2023–27623 Filed 12–14–23; 8:45 am] 

BILLING CODE 7710–FW–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[SEC File No. 270–472, OMB Control No. 

3235–0531] 

Submission for OMB Review; 

Comment Request; Extension: Rule 0– 

1 

Upon Written Request, Copies Available 

From: Securities and Exchange 

Commission, Office of FOIA Services, 

100 F Street NE, Washington, DC 

20549–2736 

Notice is hereby given that, pursuant 

to the Paperwork Reduction Act of 1995 

(44 U.S.C. 350l et. seq.), the Securities 

and Exchange Commission 

(‘‘Commission’’) has submitted to the 

Office of Management and Budget a 


ddrumheller on DSK120RN23PROD with NOTICES1
Federal Register / Vol. 88, No. 240 / Friday, December 15, 2023 / Notices 86951 

1 15 U.S.C. 80a. 

2For example, fund directors must approve 

investment advisory and distribution contracts. See 

15 U.S.C. 80a–15(a), (b), and (c). 

3The relevant exemptive rules are: rule 10f–3 (17 

CFR 270.10f–3), rule 12b–1 (17 CFR 270.12b–1), 

rule 15a–4(b)(2) (17 CFR 270.15a–4(b)(2)), rule 17a– 

7 (17 CFR 270.17a–7), rule 17a–8 (17 CFR 270.17a– 

8), rule 17d–1(d)(7) (17 CFR 270.17d–1(d)(7)), rule 

17e–1(c) (17 CFR 270.17e–1(c)), rule 17g–1 (17 CFR 

270.17g–1), rule 18f–3 (17 CFR 270.18f–3), and rule 

23c–3 (17 CFR 270.23c–3). 

4A ‘‘control person’’ is any person—other than a 

fund—directly or indirectly controlling, controlled 

by, or under common control, with any of the 

fund’s management organizations; See 17 CFR 

270.01(a)(6)(iv)(B). 

5Based on statistics compiled by Commission 

staff, we estimate that there are approximately 3,232 

funds that could rely on one or more of the 

exemptive rules; of those funds, we assume that 

approximately 90 percent (2,909) actually rely on at 

least one exemptive rules annually. 

6We assume that the independent directors of the 

remaining two-thirds of those funds will choose not 

to have counsel, or will rely on counsel who has 

not recently represented the fund’s management 

organizations or control persons; in both 

circumstances, it would not be necessary for the 

fund’s independent directors to make a 

determination about their counsel’s independence. 

7The estimated hourly wages used in this PRA 

analysis were derived from the Securities Industry 

and Financial Markets Association Reports on 

Management and Professional Earnings in the 

Securities Industry (2013) (modified to account for 

an 1800-hour work year and multiplied by 5.35 to 

account for bonuses, firm size, employee benefits 

and overhead) (adjusted for inflation), and Office 

Salaries in the Securities Industry (2013) (modified 

to account for an 1800-hour work year and 

multiplied by 2.93 to account for bonuses, firm size, 

employee benefits and overhead) (adjusted for 

inflation). 

8 (485 × $360/hour) + (242.5 × $82/hour) = 

$194,485. 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

request for extension of the previous 

approved collection of information 

discussed below. 

The Investment Company Act of 1940 

(the ‘‘Act’’) 1 establishes a 

comprehensive framework for regulating 

the organization and operation of 

investment companies (‘‘funds’’). A 

principal objective of the Act is to 

protect fund investors by addressing the 

conflicts of interest that exist between 

funds and their investment advisers and 

other affiliated persons. The Act places 

significant responsibility on the fund 

board of directors in overseeing the 

operations of the fund and policing the 

relevant conflicts of interest.2 Rule 0–1 

(17 CFR 270.0–1), as amended, provides 

definitions for the terms used by the 

Commission in the rules and regulations 

it has adopted pursuant to the Act. The 

rule also contains a number of rules of 

construction for terms that are defined 

either in the Act itself or elsewhere in 

the Commission’s rules and regulations. 

Finally, rule 0–1 defines terms that 

serve as conditions to the availability of 

certain of the Commission’s exemptive 

rules. More specifically, the term 

‘‘independent legal counsel,’’ as defined 

in rule 0–1, sets out conditions that 

funds must meet in order to rely on any 

of ten exemptive rules (‘‘exemptive 

rules’’) under the Act.3

If the board’s counsel has represented 

the fund’s investment adviser, principal 

underwriter, administrator (collectively, 

‘‘management organizations’’) or their 

‘‘control persons’’ 4 during the past two 

years, rule 0–1 requires that the board’s 

independent directors make a 

determination about the adequacy of the 

counsel’s independence. A majority of 

the board’s independent directors are 

required to reasonably determine, in the 

exercise of their judgment, that the 

counsel’s prior or current representation 

of the management organizations or 

their control persons was sufficiently 

limited to conclude that it is unlikely to 

adversely affect the counsel’s 

professional judgment and legal 

representation. Rule 0–1 also requires 

that a record for the basis of this 

determination is made in the minutes of 

the directors’ meeting. In addition, the 

independent directors must have 

obtained an undertaking from the 

counsel to provide them with the 

information necessary to make their 

determination and to update promptly 

that information when the person begins 

to represent a management organization 

or control person, or when he or she 

materially increases his or her 

representation. Generally, the 

independent directors must re-evaluate 

their determination no less frequently 

than annually. 

Any fund that relies on one of the 

exemptive rules must comply with the 

requirements in the definition of 

‘‘independent legal counsel’’ under rule 

0–1. We assume that approximately 

2,909 funds rely on at least one of the 

exemptive rules annually.5 We further 

assume that the independent directors 

of approximately one-third (970) of 

those funds would need to make the 

required determination in order for their 

counsel to meet the definition of 

independent legal counsel.6 We 

estimate that each of these 970 funds 

would be required to spend, on average, 

0.75 hours annually to comply with the 

recordkeeping requirement associated 

with this determination, for a total 

annual burden of approximately 727.5 

hours. Based on this estimate, the total 

annual cost for all funds’ compliance 

with this rule is approximately 

$194,485. To calculate this total annual 

cost, the Commission staff assumed that 

approximately two-thirds of the total 

annual hour burden (485 hours) would 

be incurred by a compliance manager 

with an average hourly wage rate of 

$360 per hour,7 and one-third of the 

annual hour burden (242.5 hours) 

would be incurred by compliance clerk 

with an average hourly wage rate of $82 

per hour.8

The estimates of average burden hours 

are made solely for the purposes of the 

Paperwork Reduction Act. These 

estimates are not derived from a 

comprehensive or even a representative 

survey or study of the costs of 

Commission rules. 

Compliance with the collection of 

information requirements of the rule is 

mandatory and is necessary to comply 

with the requirements of the rule in 

general. An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless it displays a currently valid 

control number. 

The public may view background 

documentation for this information 

collection at the following website: 

www.reginfo.gov. Find this particular 

information collection by selecting 

‘‘Currently under 30-day Review—Open 

for Public Comments’’ or by using the 

search function. Written comments and 

recommendations for the proposed 

information collection should be sent 

within 30 days of publication of this 

notice by January 16, 2024 to (i) 

MBX.OMB.OIRA.SEC_desk_officer@

omb.eop.gov and (ii) David Bottom, 

Director/Chief Information Officer, 

Securities and Exchange Commission, c/ 

o John Pezzullo, 100 F Street NE, 

Washington, DC 20549, or by sending an 

email to: PRA_Mailbox@sec.gov. 

Dated: December 12, 2023. 

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2023–27570 Filed 12–14–23; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–99140; File No. SR– 

PEARL–2023–64] 

Self-Regulatory Organizations; MIAX 

PEARL, LLC; Notice of Filing and 

Immediate Effectiveness of a Proposed 

Rule Change To Amend the MIAX Pearl 

Options Exchange Fee Schedule To 

Modify Certain Connectivity and Port 

Fees 

December 11, 2023. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 

(‘‘Act’’),1 and Rule 19b–4 thereunder,2

notice is hereby given that on November 

27, 2023, MIAX PEARL, LLC (‘‘MIAX 

Pearl’’ or ‘‘Exchange’’) filed with the 


ddrumheller on DSK120RN23PROD with NOTICES1